Saudi Arabia’s STC in joint venture with Humain to advance data centre buildout

Saudi Arabia’s largest telecoms operator STC on Thursday announced a joint venture with the kingdom’s artificial intelligence company Humain to develop and operate data centres.

The companies signed a memorandum of understanding to establish the venture, in which Humain will hold a 51% stake, while STC will own 49%.

Saudi Arabia is seeking to accelerate its AI development to capitalise on the massive demand for computing power, as part of a broader effort to diversify away from oil revenues.